Richemont to buy Italian jewellery brand Buccellati
Jewellery has become important for Richemont as it has proven to be more resilient during economic downturns than watches
27 September 2019 - 12:31
Zurich — Richemont is acquiring Italian jewellery brand Buccellati to bolster its existing portfolio of Cartier and Van Cleef & Arpels.
The Swiss luxury-goods maker bought the Milan-based brand from Gangtai Group, a Chinese investment company, for an undisclosed price. Luca Solca, an analyst at Sanford C Bernstein, said it probably paid less than the €230m the Shanghai-based investment company paid for Buccellati several years ago...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.